June 15, 2010
- in Uncategorized by schooloftrade
our currency contracts are on the move while gold futures continue to sleep the night away…
hey guys, hope you all had a great day in the trade room today!
congrats to all our members who made money today, we have a challenging Quadruple Witching OPEX Week ahead of us, so its great to have some profit going into this busy week.
I had to run some errands today and I can see I missed some great opportunities on some day trades on the Euro and other markets, oh well there will be more patterns. ๐
We have a few markets sleeping the night away right now, and we have a few contracts that day traders should be watching right now…
lets start with the Aussie Dollar…
Im seeing overhead resistance on the aussie dollar on multiple timeframes.
My goal will be to enter long above 8505, getting above multiple levels of overhead resistance on medium timeframes, and i will look to take profit at 8527 and 8550.
Lets move to the euro futures contracts…
the euro has already moved off its highs, looks like I missed this 2-step short off its high of day.
Can you see the pattern? we had an excellent entry just below the yellow trigger line @ 8290
come join the trade room and ill show you where it was ๐
How about the Crude Oil futures?
I can see the crude oil futures is nto at its extremes, this market is trading in the middle, and we cant trade the middle of the trading range.
The orange line is our 12am open of the trading day, and you can see how far away we are from our high of day @ 75.99.
We need to wait for this market to work itself up to the highs and give us a 2-step pattern opportunity to the short side.
and lastly, we have a 2-step long that has just trigger on the ES e-mini futures
we have plenty of room above our entry of 1089.75, and ill look to take profit at 1094.00 and 1097.50 on this reversal off the lows on this e-mini.
im looking forward to reviewing this with you in the trade room on tuesday!
follow those rules, see you @ 745am est
